Comments on: Thanks for The Offer…But… http://pikewaynepablog.com/2008/10/17/thanks-for-the-offerbut/ Real Estate & Local Info For Wayne & Pike County in the Poconos Mon, 06 Feb 2012 19:34:18 +0000 hourly 1 http://wordpress.com/ By: Karen Rice http://pikewaynepablog.com/2008/10/17/thanks-for-the-offerbut/#comment-286 Mon, 20 Oct 2008 14:49:08 +0000 http://pikewaynerealestate.wordpress.com/?p=639#comment-286 Joshua, thanks so much for the comment! You make a good point, and I always encourage my buyers to make an offer – and I tell them that I will certainly present it.

There have been cases of homes being grossly overpriced selling for a lot less than it was listed for. A nearby home started out at $399,000 and I nearly choked, as I would have listed it at about $225,000. Big surprise, it sold after over a year on the market for $220,000. BUT it was WAY overpriced to begin with.

This is why I suggest researching the comps and knowing what is a fair price for the market. There is of course that chance that the seller just wants to get “out” and will take a low offer…but buyers need to understand that they may not get it. :-)

]]> By: Joshua Hanoud http://pikewaynepablog.com/2008/10/17/thanks-for-the-offerbut/#comment-282 Mon, 20 Oct 2008 00:15:30 +0000 http://pikewaynerealestate.wordpress.com/?p=639#comment-282 Hi Karen – While I agree with you that 95% of the time buyers are just wasting time & effort putting ridiculously lowball offers in on homes…there’s still that chance that a seller might be desperate enough to take it…at least in my market here in Hernando County, Florida, anyway…I’ve seen homes listed at $700,000 sell for $500,000…that means someone had to have the guts to make that type of offer (and to know that it’s probably not going to amount to anything aside from ticking off the seller)…

Granted the house was overpriced…but not by anywhere near $200,000…but because it was overpriced by $50,000 it sat and sat and sat and sat and then when that offer DID come in…it was the only one in over a year…it was like a cracker to a starving person….it was like gold.

This lesson speaks to the Seller’s as well as to the buyers…price your home appropriately to ensure that you aren’t that starving person getting excited about a cracker!

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